Legal Encyclopedia. Letter B

budget deficit

- Excess of budget expenditures over revenues.

In the case of adoption of the budget for the next fiscal year with BD applicable law (decision) on the budget approved by the funding sources BD

In the case of adoption of the budget for the next fiscal year without BD applicable law (decision) on the budget may be provided for raising funds from sources of funding BD to finance the budget expenses within costs of debt repayment.

Current expenditures of the Russian Federation subject budget, local budget, approved,

accordingly, the law on the budget of the RF subject or regulation of the representative body of local government can not exceed the scope of the subject of RF budget revenues, the volume of local budget revenues approved, respectively, by the law on the budget of the RF subject or regulation

representative body of local

government.

Size BD federal budget, approved by the federal law on the federal budget can not exceed the total volume of public investment and maintenance costs of public debt of the Russian Federation in the fiscal year.

Size BD subject of federation budget approved by the law of the subject of the Russian Federation on the budget for a given year may not exceed 15% of the subject of RF budget revenues excluding financial assistance from the federal budget.

Size BD local budget approved by the regulatory act

representative body of local

government on the budget for a given year may not exceed 10% of the local budget revenues excluding financial assistance from the federal budget and the budget of the subject of the Russian Federation.

In the case of the representative body of local government approval of the law of the RF subject or regulation of the budget for the year the size of proceeds from the sale of the property size limit of BD

Russian regional budget or the local budget, respectively, may be greater than the above limit, but no more than the value of the proceeds from the sale of property.

Sources of financing BD approved by the legislative (representative) bodies of power in the law (decision) on the budget for the next fiscal year by main types of borrowed funds.

It may not be a source of funding BD loans the Bank of Russia, as well as the acquisition of the Bank of Russia debt obligations of the Russian Federation, Russian Federation subjects and municipalities in their initial placement.

The sources of financing BD federal budget are:

1) internal sources in the following forms:

a) loans obtained from Russian credit organizations in the Russian currency;

b) government loans, implemented through the issuance of securities on behalf of the Russian Federation;

c) budgetary loans and budgetary loans received from budgets of other levels of the budget system;

d) proceeds from the sale of property owned by the state;

d) the amount of the excess revenues over expenditures on state reserves and reserves;

e) changes in the balance of funds in accounts to record funds of the federal budget;

2) external sources in the following forms:

a) public borrowing undertaken in foreign currency through the issuance of securities on behalf of the Russian Federation;

b) loans to foreign governments, banks and companies, international finan cial institutions, granted in foreign currency attracted by the Russian Federation.

Sources of financing of BD budget of the subject of the Russian Federation may be internal sources in the following forms:

1) government loans, implemented through the issuance of securities on behalf of the Russian Federation subject;

2) budgetary loans and budgetary loans received from budgets of other levels of the budget system;

3) loans from credit institutions;

4) proceeds from the sale of property in state ownership of the subject of the Russian Federation;

5) changes in fund balances in the accounts for

integration of the subject of federation budget.

The sources of financing BD local budget can be internal sources in the following forms:

1) municipal loans, implemented through the issuance of municipal securities on behalf of the municipality;

2) loans from credit institutions;

3) budgetary loans and budgetary loans received from budgets of other levels of the budget system;

4) proceeds from sale of property, which is municipal property;

5) changes in the balances of funds in accounts to record funds of the local budget.